Shark Tank India-featured Premium espresso model Toffee Espresso Roasters has raised Rs 5 crore in pre-series A funding spherical led by Inflection Level Ventures, a Gurugram-based angel funding platform.

The spherical additionally noticed participation from 66 bridge companions, Abhijit Vemuganti and Invesst as effectively.

The startup will make the most of near 60% of the funds as working capital for the fast-expanding operations of the corporate. Of the remaining funds roughly 10-15% is deliberate to be invested in enhancing and increasing the backend roastery. One other 10%, for use for enhancing packaging high quality and the remaining 10-15% of the capital can be devoted to new product growth, the discharge notes. 

Based in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Espresso Roasters focuses on sourcing, roasting, and mixing a number of the most interesting coffees from world wide. The model mentioned has a lean provide chain, reducing middlemen to make sure higher high quality on the proper worth for the client. 

It claims to be one of many prime 5 espresso web sites in India primarily based on on-line traction and at present holds round 1-2% market share within the general espresso class.

Toffee Espresso Roasters at present produces greater than 5 tonnes of espresso each month, and over 40,000 items are consumed month-to-month. It now goals to scale manufacturing to 50 tonnes a month.

Mitesh Shah, Co-founder IPV, mentioned, “Regardless of India being one of many world’s main producers of espresso, most espresso lovers nonetheless flip to costly imported espresso or café-only specialty brews for good high quality artisanal espresso. However the at- dwelling espresso market is dominated by on the spot espresso, leaving little area for true specialty roasts. Toffee bridges this hole by providing top quality, crafted, artisanal espresso that brings global-style espresso experiences to each Indian dwelling.”

“India’s espresso panorama is evolving quicker than ever, but a big hole stays between mass and premium choices. As espresso consumption grows throughout codecs from roasted and floor to chilly brews and capsules, our purpose is to construct a mass- premium model that brings high-quality espresso to each at-home and out-of-home shoppers at an accessible worth. We imagine India deserves a espresso revolution that serves not simply metros, however the wider India 1 and India 2 viewers, and we’re dedicated to main that shift,” mentioned Nandini Shrivastava.